Troymet Updates McClarty Lake Planning
Published : January 23, 2013
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Keywords :   Copper | Diamond | Gold | Market | Report | Zinc |

COMOX, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2013) - Troymet Exploration Corp. (News - Market indicators) ("Troymet" or the "Company") is pleased to update exploration plans for the McClarty Lake project, located ~45 kilometres south of HudBay Minerals Inc.'s ("Hudbay") Chisel North and Lalor volcanogenic massive sulphide (VMS) deposits. The Lalor project, scheduled to be in production in 2015, is on a fast track to become Hudbay's next major underground mine (see www.hudbay.com). The project is believed to hold the second largest metal deposit in the Flin Flon Greenstone Belt and the largest pre-development deposit discovered in the Flin Flon-Snow Lake region. The McClarty Lake project comprises two claims (DYC3606 & DOL78; 252 hectares) held in a Joint Venture between Hudbay (60%) and Troymet (40%), and three claims (MAC-1, MAC-2 & MAC-3; 344 hectares) owned 100% by Troymet.

Joint Venture Claims

Troymet is pleased to report that planning is well advanced for the 2013 winter Diamond drilling on the McClarty Lake Joint Venture where Hudbay Minerals Inc. is the operator (HudBay 60%; Troymet 40%). The drill program will test for plunge extensions of the Discovery zone mineralization to the southeast, and be conducted by Hudbay in conjunction with its regional drill program. An access road is currently being prepared as are on-ice drill platforms. Under the terms of the Joint Venture Agreement, Hudbay must fund $1,076,051 in exploration costs before Troymet is required to fund its participating interest. Thereafter, Hudbay and Troymet will share all future exploration and development expenditures pro-rata based on their participating interests. 

The McClarty Lake project is a property of substantial merit with excellent discovery potential for a precious metal-rich VMS deposit(s). Drilling in 2008 identified two laterally continuous zones of massive sulphides within a steeply NE-dipping sequence of felsic metavolcanic rocks. The lower zone carries up to 1.47% zinc over 43.05 metres including 3.46% zinc over 15.3 metres in addition to significant copper mineralization and is locally gold enriched. This base metal bearing zone has been confirmed over a strike length of ~75 metres and to a vertical depth of ~175 metres (open). The mineralization is shallow, with the lower zone starting at the base of the Palaeozoic sequence at a depth of approximately 50 metres. The upper zone occurs approximately 150 metres stratigraphically above the lower zone and is locally gold enriched. Both zones are open along strike and at depth (see "2008 Technical (NI 43-101) Report on the McClarty Lake Property" by R. Kutluoglu and A.H. Bailes, dated June 11, 2008 and filed on SEDAR July 10, 2008).

In 2011, Hudbay completed a ~20 line kilometre surface pulse electromagnetic survey over the Discovery zone as well as a 1,563 metre (3 hole) drill program (News Release - January 12, 2012). Hole MCC001 intersected the Discovery zone mineralization at a vertical depth of approximately 300 metres (1.03% zinc over 15.63 metres including 3.58 % zinc over 3.05 metres).

Troymet (100%) Claims

Troymet's 2011 exploration program on the MAC conductor identified the northern extension of the horizon that hosts the Discovery zone (News Release - April 11, 2011). The results of the first-pass reconnaissance drilling program are significant as they indicate the presence of a +2,000 metre long stratigraphic horizon that carries base metal mineralization in the two locales, where tested. The identification of a productive, base metal mineralized horizon extending through Troymet's 100% owned claims significantly increases the possibility of a significant VMS discovery on the Company's 100% owned ground.

Strategic Alternatives Review

Troymet is currently evaluating the various strategic alternatives available to Troymet with the goal of maximizing shareholder value. These alternatives may include, but are not limited to, a consolidation of the common shares of Troymet, the spinout of a property or properties of Troymet, joint ventures or other business combinations involving Troymet. No decision on any particular alternative has been reached at this time and there can be no assurance that the review of strategic alternatives will result in any change in Troymet's current operations, structure, assets or properties, that Troymet will pursue any particular transaction nor that any transaction will be concluded. Troymet does not intend to make any further announcement regarding the strategic alternatives review unless and until its Board of Directors has approved a specific transaction, if any, another course of action has been approved by the Board of Directors of Troymet or the Board of Directors otherwise deems disclosure of strategic alternatives developments is appropriate.

Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.

TROYMET EXPLORATION CORP.

Kieran Downes, Ph.D., P.Geo., President, CEO & Director

This press release may contain certain forward-looking information. In particular, this press release contains forward-looking information in respect of potential expenditures and a potential discovery on the McClarty Lake project. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports or prior exploration results, that the results it has received and the interpretation thereof are reliable and future costs and expenses being based on historical costs and expenses, adjusted for inflation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other assumptions used to develop such forward-looking information and a description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Troymet Exploration Corp.
Anthony Zelen
Investor Relations
1-888-456-4952
anthony@senergyir.com
www.troymet.com

Troymet Exploration Corp.

EXPLORATION STAGE
CODE : TYE.V
ISIN : CA8977731071
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Troymet is a silver and gold exploration company based in Canada.

Its main exploration properties are MCCLARTY LAKE, KEY, WHEATCROFT and GOLDEN EAGLE in Canada.

Troymet is listed in Canada. Its market capitalisation is CA$ 609 281 as of today (US$ 452 325, € 397 720).

Its stock quote reached its highest recent level on November 26, 2010 at CA$ 0.41, and its lowest recent point on June 28, 2019 at CA$ 0.01.

Troymet has 121 856 225 shares outstanding.

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Financings of Troymet Exploration Corp.
9/18/2013Cancels Private Placement
9/26/2011s Exploration Programs
8/19/2011Closes $1,844,850 Private Placement
7/29/2011Increases Private Placement to $1,500,000
12/8/2009Announces $500,000 Private Placement
7/9/2008Completes $1,300,000 Unit Private Placement
Project news of Troymet Exploration Corp.
3/25/2015(Key)Reports: New Gold Completes Expenditure Commitment on the Ke...
3/19/2015(Mcclarty Lake)Announces That McClarty Lake JV Identifies New VMS Targets
12/11/2013(Key)Completes Sale of Key Property
11/19/2013(Key)Signs Agreement to Sell Key Property
4/15/2013(Mcclarty Lake)Reports on the 2013 Drill Program at McClarty Lake Project
1/14/2013(Key)Reports Assays From Key Project
1/14/2013(Key)Reports Assays From Key Project
11/8/2012(Key)Completes Drilling on Key Project
10/4/2012(Key)Mobilizes Drill to the Key Project
9/18/2012(Key)Resumes Exploration & Schedules Drilling on Key Project
8/14/2012(Mcclarty Lake)& Hudbay Sign Joint Venture Agreement on McClarty Lake Proje...
7/24/2012(Key)s Progress and Expands Program at Key Gold Project
5/29/2012(Key)Initiates Exploration Program on Key Project
3/1/2012(Key)Focuses on Key Project
2/16/2012(Golden Eagle)Intersects 1.27 g/t Gold over 36.45 metres at Golden Eagle
1/12/2012(Mcclarty Lake)s Exploration Progress at McClarty Lake
11/30/2011(Golden Eagle)Completes Drilling at Golden Eagle
10/12/2011(Golden Eagle)Mobilizes Drill to Golden Eagle Project
6/13/2011(Key)Completes Phase I Exploration on Key Project
6/6/2011(Mcclarty Lake)Reports HudBay Earnback Complete on McClarty Lake Project
4/5/2011(Key)s Drill Program on Key Project
3/30/2011(Mcclarty Lake)Optionee HudBay Drilling at McClarty Lake
3/3/2011(Key)s Drill Programs at Key & McClarty Lake Projects
2/15/2011(Mcclarty Lake)Drilling at McClarty Lake
2/10/2011(Key)Drilling on Key Property
6/21/2010(Key)Confirms Regional Structures on Key Project
6/10/2010(Key)Identifies Structures on Key Project
5/20/2010(Key)Mobilizes Crews to Key Project
4/28/2010(Key)Reports Anomalous Gold at Key - Plans Summer Drill Program
4/13/2010(Key)to Drill on Key Project
3/8/2010(Mcclarty Lake)Confirms VMS Target on 100% Owned McClarty Claims
2/17/2010(Golden Eagle)Confirms New Gold Targets
1/28/2010(Mcclarty Lake)Commences Winter Program
1/14/2010(Mcclarty Lake)Winter Program
12/21/2009(Golden Eagle)Identifies 9 New Target Areas
10/2/2009(Golden Eagle)Mobilizes Drill
10/21/2009(Golden Eagle)Completes Drilling
11/6/2009(Mcclarty Lake)Plans to Drill the Mac Target
9/10/2009(Golden Eagle)Commences Exploration Program at Golden Eagle Project
6/25/2009(Golden Eagle)Updates Skarn Zone, Golden Eagle Project
6/16/2009(Golden Eagle)Targets Bulk-Tonnage Gold at Golden Eagle
2/24/2009(Golden Eagle)Confirms Intrusion Related Gold System on Golden Eagle Proje...
8/13/2008(Key)Completes Airborne VTEM Survey at the Key Project
6/13/2008(Mcclarty Lake) Hudson Bay to Earn Back Interest in Troymet's McClarty Lake...
5/15/2008(Mcclarty Lake)Reports Final Drill Results from McClarty Lake
4/25/2008(Mcclarty Lake) Preliminary Geological and Geophysical Observations at McCl...
4/9/2008(Mcclarty Lake) First McClarty Lake Holes Intersect Zinc, Copper and Gold
3/17/2008(Mcclarty Lake)Intersects Massive Sulphide Mineralization at McClarty Lake ...
3/5/2008(Mcclarty Lake) Completes VTEM Survey on McClarty Lake VMS Property
2/28/2008(Mcclarty Lake)Drilling Underway at McClarty Lake VMS Project
2/11/2008(Mcclarty Lake)Drill to McClarty Lake VMS Project
1/9/2008(Mcclarty Lake) Commence Winter Exploration Program at McClarty Lake VMS Pr...
Corporate news of Troymet Exploration Corp.
7/25/2016Troymet Identifies New Drill Targets & Expands Prospective A...
7/11/2016Troymet Starts Detailed Sampling of Gold and 3DIP Anomalies ...
6/20/2016Troymet Reports Significant 3DIP Results at Redhill
6/2/2016Troymet Completes Wildcat Drill Program
5/10/2016Troymet Commences RC Drill Program at Wildcat Project - Utah
5/10/2016Renaissance Gold Obtains Drill Permit for Wildcat Project
4/26/2016Troymet Commences Induced Polarization Survey at Redhill
4/4/2016Troymet Starts Field Program at Redhill
1/20/2016Renaissance Gold Exploration Update
1/19/2016Troymet Targets the Core Area at Wildcat
12/15/2015Troymet’s Joint Venture Partner Plans Ground Geophysics at M...
12/15/2015Troymet's Joint Venture Partner Plans Ground Geophysics at M...
11/24/2015Troymet Targets the Rattler Breccia at Wildcat
10/29/2015Troymet Identifies New Copper and Gold Soil Anomalies at Red...
10/20/2015Troymet Identifies Significant Copper and Gold Soil Anomalie...
10/7/2015Troymet Reviews Initial Drill Targets on Alpha Zone
9/16/2015Troymet Completes Redhill Field Program
8/20/2015Troymet Shareholders Approve All Matters at AGM
7/27/2015Troymet Updates Wildcat SE Target Area Progress
7/14/2015Troymet Appoints New Auditor
7/9/2015Troymet Options Redhill Project From Homegold
3/19/2015Troymet Announces That McClarty Lake JV Identifies New VMS T...
2/23/2015Troymet Options Wildcat Project from Renaissance Gold
1/16/2015Grants 1.35 Million Stock Options
1/16/2015Troymet Grants 1.35 Million Stock Options
12/8/2014Troymet Terminates Thelon Option & Provides Corporate Update
10/20/2014Troymet Reports Significant Skarn Zone Prospecting Results
8/20/2014Troymet Announces Corporate Update
7/18/2014Troymet Shareholders Approve All Matters at AGM
6/2/2014Troymet Announces Appointment of CFO
5/13/2014Troymet Announces the Resignation of Brian Cebryk as CFO of ...
4/28/2014Troymet Announces Adoption of Advance Notice By-Law
2/19/2014Provides Corporate Strategy Update
6/14/2013(Mcclarty Lake)Receives Assays from Hudbay for McClarty Lake
4/19/2013Shareholders Approve All Matters at AGM
3/25/2013Files AGM Materials and Announces AGM Matters
1/23/2013(Mcclarty Lake)s McClarty Lake Planning
7/10/2012(Golden Eagle)Files NI 43-101 Technical Report for Golden Eagle Gold Proje...
6/12/2012(Key)Files NI 43-101 Technical Report for Key Gold Project
1/19/2012(Key)Identifies Large Geochemical Soil Anomalies and Additional D...
5/9/2011(Key)Intersects Porphyry Style Mineralization on Key Project
4/11/2011(Mcclarty Lake)Identifies Extension of Discovery Horizon at McClarty Lake P...
1/25/2010Update on Status
2/23/2010Expands Geophysical Survey at McClarty
1/23/2010Completes $500,000 Financing
8/11/2009s Activities
9/4/2008Extends Tannis Zone at Golden Eagle Project
8/7/2008Commences Drilling at Golden Eagle Project
8/1/2008Provides Operational Update
1/16/2008Tax Rollover Election Reminder to Former Signet Shareholders
9/26/2007Announces Base Metal Discovery at McClarty Lake VMS Project
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